New Income Tax Slab for 2011-12 :-
The Finmin has announced the Income Tax slab for the year 2011-12, in accordance with there is no huge change in slab amount and once again disappointed in what would be expected to increase.
The Finmin has announced the Income Tax slab for the year 2011-12, in accordance with there is no huge change in slab amount and once again disappointed in what would be expected to increase.
| New Income Slab for Individual | |||
| Income Slab | Tax | Income Slab | Tax |
| Income upto Rs 1,80,000 | Nil | Income upto Rs 1,60,000 | Nil |
| Income from Rs 1,80,001 to 5,00,000 | 10 % | Income from Rs 1,60,001 to 5,00,000 | 10 % |
| Income from Rs 5,00,001 to 8,00,000 | 20 % | Income from Rs 5,00,001 to 8,00,000 | 20 % |
| Income above 8,00,000 | 30 % | Income above Rs 8,00,000 | 30 % |
| New Income Slab for Women | |||
| Income Slab | Tax | Income Slab | Tax |
| Income upto Rs 1,90,000 | Nil | Income upto Rs 1,90,000 | Nil |
| Income from Rs 1,90,001 to 5,00,000 | 10 % | Income from Rs 1,90,001 to 5,00,000 | 10 % |
| Income from Rs 5,00,001 to 8,00,000 | 20 % | Income from Rs 5,00,001 to 8,00,000 | 20 % |
| Income above 8,00,000 | 30 % | Income above Rs 8,00,000 | 30 % |
| New Income Slab for Senior Citizen(60 to 80 Years) | |||
| Income Slab | Tax | Income Slab | Tax |
| Income upto Rs 2,50,000 | Nil | Income upto Rs 2,50,000 | Nil |
| Income from Rs 2,50,001 to 5,00,000 | 10 % | Income from Rs 2,50,001 to 5,00,000 | 10 % |
| Income from Rs 5,00,001 to 8,00,000 | 20 % | Income from Rs 5,00,001 to 8,00,000 | 20 % |
| Income above 8,00,000 | 30 % | Income above Rs 8,00,000 | 30 % |
| New Income Slab for Senior Citizen(above 80 years) | |||
| Income Slab | Tax | Income Slab | Tax |
| Income upto Rs 5,00,000 | Nil | - | - |
| Income from Rs 5,00,001 to 8,00,000 | 20 % | - | - |
| Income above Rs.8,00,000 | 30 % | - |
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